The proposed changes to the capital gains inclusion rate, effective June 25, 2024, are currently subject to parliamentary approval.
In line with standard practice, the CRA is administering these changes based on the proposals outlined in the Notice of Ways and Means Motion tabled on September 23, 2024.
Under parliamentary convention, taxation proposals take effect as soon as a Notice of Ways and Means Motion is tabled, ensuring consistency and fairness for all taxpayers.
Please contact us to learn more about how this affects you!